Foot Mercato says Arsenal are showing the most concrete interest in the French midfielder.
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The English giants have taken initial steps in an attempt to secure a transfer.
However, Arsenal have not yet made a formal offer. It remains to be seen whether it will come before the January window closes, or if it will be delayed until the summer.
Further, both Manchester United and Real Madrid are also in the hunt for the young midfielder. Lille are said to rate Bouaddi at €60m.
The midfielder chose to extend his contract in early December. The current deal runs until the summer of 2029.
